The club are struggling with excessive debt, including a sizeable sum owed in tax.
“Either we reach an agreement with the tax authority before the end of the year or we go into administration. We cannot wait any more,” Lendoiro said.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.